Demand-based pricing is any pricing method that considers fluctuations in customer demand and adjusts prices accordingly to fit changes in perceived value that come with the same. Companies such as tow truck Vienna va are always adjusting their prices for services, according to market changes, demand, and customer preferences. Demand-based pricing comes in different forms. The most unifying factor is that is influenced by customer demand. Methods applied to be in line with this strategy vary based on different factors, including a company’s business goals, its place in the market, different consumer preferences as well as the quality of products.
The specific demand-based pricing a company will use also will rely on how and when a company enters the market. Original innovators normally won’t apply the same methodology as those that make a budget-friendly alternative.
Different methods are used in the determination of demand-based pricing.
Price skimming refers to the practice of identifying and charging the highest price of products that consumers are willing to pay, and working to reduce this price as time moves on. A company might set the price for a product at a very high value initially, but as new competition emerges, and the consumer surplus decreases, the company works to gradually scale its price down to accommodate an increasing price-sensitive customer base. This strategy is often used by creators of novel technology. As competition in that specific space heats up, the initial introductory price starts to decrease.
Penetration pricing refers to a process of attracting new buyers to a product or service through undercutting its value upon initial offering and setting below-market prices. This method intends to create the perception of the value of that product relative to its competitors. It is a process that is built on the idea that lower prices can lead to increased brand awareness and once your brand has captured the consumer’s attention, the price can be adjusted slightly upward.
Value-based pricing is on the principle that a product or service is priced on how much consumers think it’s worth. This concept is applied mostly to those products designed to enhance the self-image of a customer. Customers will pay a price that is completely based on the collective perception of the said value. It is a matter of how fine the product is. This pricing strategy is what drives what might feel as excessive price, due to how premium the product is perceived to be.
Many industries apply demand-based pricing. An example is the airline industry. Prices of air tickets keep on fluctuating based on demand in the industry. Another ticket you pay for your favorite adventure and hideout places such as Disney World. A company that also employs a price skimming strategy is Apple. During the introduction of any new iPhone, the price is normally very high and starts to reduce with time. Owning an iPhone is also perceived as both convenience and luxury, hence the high introductory prices.
It is worrying how many businesses are not able to meet their goals due to ineffective follow-up of their schedule. Businesses such as Fredericksburg tree service have been able to serve their customers better because of the effective use of business scheduling using Google Calendar. Business management involves the process of planning, organizing, and controlling the activities of businesses towards set objectives and goals. These activities aim at maintaining a more efficient and effective workflow of the business. A business schedule can be referred to as an outlined plan for the activities to be carried out in any profit gaining activity. Giving the layout of events and time that are to take place is essential for any business activity. It dictates what, how, and when to be done.
Google calendar is one of the most efficient ways to manage a business schedule. It is a mobile application and web time manager created by Google. Before any use, it’s a requirement that you have a Google account. Users can set the days they want to be displayed in their custom view mode made possible by the Ajax-driven interface.
Google calendar be accessed at any location of the world as long as you have access to the internet. The procedure is as follows to opening a google calendar is:
Open the Google Calendar and click on any empty time without an event and enter your details, then choose the calendar you want to add if you have multiple calendars.
Click on the Create button or edit button if you want to make changes to a previous event.
For longer events, time is selected by dragging the device pointer downwards while on time selection. If need be, these events can be altered, added, or removed even without reloading your page.
There are weekly, agenda, and monthly modes of view for the Google Calendar. The number of days to show the custom events can be set as required. The daily activities of the business can be easily monitored by adding them into the tool of daily “To Do” task, which can be shared either with the public or private addresses.
The Google Calendar has been integrated with Gmail and iGoogle wherein a case of an email containing such words like meeting and date gets an automatic add to events on the calendar. Data can also be exported from the Google calendar to private and public addresses which can be used to send data and information to an organization. It is also possible to create a calendar for a group of people.
With the current technology of Google calendar, it’s possible to synchronize your calendar with other third-party software such that you can access your events even with other software and applications. Google calendar is supported by the iOS operating system, WebOS, and Android phones and tablets. Since it is a web-based application, it is compatible with any operating system.
In cases where there are no storage facilities like hard drives for the activities of the business, data can’t be lost as it is stored in the cloud. It is very convenient for businesses as it helps keep businesses connected despite distances. It is a very affordable service with easy navigation and a low-cost investment even for small businesses
Perform a basic Google search and you’ll find numerous freelancer platforms. Some of the most popular options include Upwork, Fiverr, PeoplePerHour, Simple Hired, and Toptal. These freelancer platforms are home to thousands of freelance workers ready and willing to take on business tasks and assignments. If you are considering hiring a freelancer from a web-based freelance platform, know that this is not your only option. In some cases, using a 1099 subcontractor may be the better option. Here’s a look at some of the pros and cons of a freelancer platform compared to a 1099 subcontractor.
Access to a large number of freelancers. What makes freelancer platforms so popular is that they are chocked full of talent. You will discover freelancers from all over the world who have expertise in different areas of business.
Cost-effective services. While freelancers have the right to charge whatever price they see fit based on the job, most freelancing services are very affordable. When hiring a freelancer from a freelancer platform, note that the platform may take a percentage of the freelancer’s earnings.
Maintain a low financial risk. When you hire a freelancer from a freelance platform, you will likely have protection against sub-par work. This means that if you are unsatisfied with the work, you will not have to pay for it.
Unpredictable quality of work. As previously mentioned, you cannot always determine what the quality of work will be when you hire a freelancer. This means you may waste time having to find a new freelancer to redo the work.
Lack of training. As freelancers are essentially independent contractors, they will not receive the same level of training as a regular employee.
Less control and supervision. Freelancers work on their own terms which means you will have minimal control and supervision.
Greater reliability. Unlike a freelancer who tends to work for multiple clients at one time, subcontractors usually work for one client full-time for a set period of time.
Expertise in specialized areas. While some freelancers specialize in certain areas, many are jacks of all trades. Subcontractors, on the other hand, tend to specialize in certain areas.
Act as an employee test drive. If you are considering whether or not to hire a permanent employee, consider hiring a 1099 subcontractor first to see if you really need another set of hands or if you can get by without a new hire.
Higher legal risks. As freelancers tend to work remotely, you don’t have to worry about them getting hurt on your property. Subcontractors may need to be physically onsite which can increase the risk of legal issues.
Availability can be limited. As subcontractors tend to work with one company at a time, you may find that your go-to contractors are not always available to step in when you need them.
Could have worked with your competitors. As subcontractors tend to work locally, you may discover that they have worked with your competitors in the past.
There are pros and cons when it comes to both freelancer platforms and 1099 subcontractors. It is important to consider both options carefully and choose one that meets your budget and unique needs.
Need an extra pair of hands to take over important job tasks? You may be considering hiring a new employee. However, this is not your only option. In some scenarios, it may be more convenient and cost-effective to hire a freelancer instead. Your choice should ultimately come down to your budget and the job description at hand. To aid you in your decision, consider both the pros and cons of hiring a freelancer versus an employee.
Hiring a Freelancer
Flexibility – If your company is like most businesses, you probably have busy periods during the year and less busy periods. This can make staffing difficult as there may not be enough work to go around during the slower periods. By choosing to work with a freelancer, you can benefit from having an extra team member on board during busier times and can cut ties when business slows.
Specialists – Unlike a regular employee who may or may not have vast experience in a certain area, you can count on freelancers to specialize in different business areas. This can cut down on training and help ensure that the job is done at a satisfactory level.
Affordable – Freelancers typically cost less than hiring a permanent employee. You only pay a freelancer for the work they do and you can avoid extra expenses like paid holidays.
Time-Consuming – One of the biggest downsides of hiring a freelancer is that they are not always available to take on new work. As freelancers tend to have multiple clients at once, they may not be available to take on new work and you may have to spend extra time trying to find a replacement.
Communication Challenges – Unlike an employee who is onsite and can be called into your office when you need to chat, a freelancer can be more difficult to get ahold of. You may need to wait to hear back via email or phone which could take hours or sometimes even days.
Lack of Supervision – Many business owners gain peace of mind by supervising their workers to ensure that everything is moving at a steady pace. This is not always possible with freelancers, especially those that work remotely.
Hiring an Employee
Loyalty – Freelancers work with multiple businesses which means that they are not loyal to any one company. Employees have a vested interested in the success of your business and are likely to put more time and energy into making your company successful.
Problem-Solving – When a problem occurs, you do not want to wait around for a freelancer to get back to you. A permanent employee who is already onsite and willing to help out can help ensure that problems are dealt with quickly.
Reliable – While most freelancers are professionals, there is no guarantee that they will not simply disappear. Permanent employees tend to be more reliable and you can count on them to finish their assigned work on a day-to-day basis.
Higher Costs – Permanent employees come at a higher cost. Along with a monthly salary, you will also need to pay higher overhead costs, taxes, office equipment, and other expenses.
Lack of Talent – Finding talent can often be difficult, especially if your business is located in a smaller city.
Employment Rights – Unlike freelancers, permanent employees have certain employment rights that you must adhere to. For example, if a worker becomes injured in the workplace, you will be responsible for paying out workers’ compensation.
While hiring both a freelance and employee can come with certain perks, it is important to weigh the good with the bad before making your decision.
It doesn’t matter what type of business you are involved in, it can be Fredericksburg Tow Truck, hotel business, tour, and travel business among others – the most important thing is to offer superior customer services and stand above the crowd of competition. The impression your staff leave on your customers will determine whether they shall be returning or not.
No matter how great your product is, or how talented your staff is, one thing that customers will be looking forward to is how the staff handles them. Here are some few customer service tips you can use of better serve your customers.
Strengthen your customer service skills
It is very important to ensure that your customer service team has the right skills for managing customer needs. Your staff should show high levels of empathy, patience, and consistency. Every customer is different and your staff should be adaptable. They should be able to handle customer demands effectively. Your staff should be able to express themselves clearly.
Improve customer interactions
Your staff needs to have the right skill set, but skill alone will be enough. You need to practice active listening to your customers. When you find you are in the wrong, admit your mistakes. This helps in building trust and restoring confidence. When a problem comes up, ensure that it is fully resolved. You also need to follow up after a problem has been solved.
It is very important to ensure that your employees are the right knowledge on the specific areas of business operation. All your staff members should be equipped with a comprehensive understanding of your products and services to ensure that customers do not undergo a hard time when looking for answers from staff.
You need to choose a training method that best fits your business. Businesses should come up with a comprehensive training guide for all departments covering various topics and FAQs, that illustrate how best to solve customer problems. You also need to teach your staff active listening. Even the toughest customers will feel better the moment they know that someone in their company has listened to them.
You need to emphasize positive language from your members of staff. If a customer shows interest on a product that is not available, the natural response would tell the customer that the product is not available. However, you can give the customer a response such as – the product will be available in a week’s time. You need to offer the highest level of flexibility as possible and always aspire to set a good example.
Many of us have all dreamt about hiring the right interior designer for their needs but are not sure where to start and how to go about it. Working with an interior designer on your problems can be time-saving as well as money saving. This guide explores the best ways and tips to follow when looking forward to hiring the right designer.
Have realistic expectations
Most designers will tell you that irrespective of what you see over the internet, there is a need to be realistic on what you need to achieve. You need to have a style in mind and ask your designer to help you realize the design. A good way is to identify your style and work towards providing a vision board that contains a collection of everything you want to have.
You need to take time to find the right fit for you. You have to understand that not all designers are created equal. Some will give you superior designers, while others may just be beginners on the job. For the designer that you choose to work with, ensure that you ask them to give you different designers, then make a choice from these designs. Do not just settle on the first design that you get. Ask for more and be ready to explore different options.
Having a clear and good communication is very important and the key to ensuring that your project is successful. Sometimes, newer clients are normally hesitant to make the true opinions of how they feel about a product or design. Good designers normally have a preference for decisive clients. When a client has a definitive option, it makes work easier for the designer.
Every design comes with its cost. Some designs are simple and attract a low cost. Others are complex to implement and don’t come cheap. You should however not that cheap is not always the best option. Regardless of the cost it takes, be sure to not everything it will cost you to have a specific design implemented.
When hiring a designer, it is very important to interview them to ensure that they have the right qualification and skill to deliver. Look at their portfolio, which is a collection of designs they have already worked on. This will give you a clear picture of their creativity as well as their level of attentiveness.
Hiring the best chefs is one of the biggest challenges any hotel management faces. Finding chefs who are competent, highly motivated and hardworking can be a very challenging task. Despite these challenges, it doesn’t mean that this task can be realized. A good chef trains new staff and oversees the whole cooking experience. He develops menus and provides vital inputs to the marketing team on issues affecting restaurants.
Most people who have a culinary degree have the basic qualification to prepare high-quality foods. However, preparing high-quality meals is not enough. To hire the right chef, you need to look at the following issues;
A good chef must have even temperament. The way your chef reacts in different scenarios will play a key role in determining how the rest of the staff feel, as well as how customers are treated. You need to look for someone who is calm and collected and can work under pressure. They should be able to keep the kitchen running efficiently at the highest level of cool.
Ability to Train
Experienced and highly qualified chefs should be able to train other chefs. They need to be good educators and trainers. They are responsible for showing other staff how to prepare meals and work with various equipment. They should also be able to teach other members of staff how to prepare different menus as well.
Eye for Quality
Chefs need to set standards when it comes to kitchen matters. It is important to have someone who is willing to go above board to deliver the best meals with a keen high for the quality. Hire a chef who expects only the best from other members of staff as well as ensuring customers get the highest level of satisfaction. Regardless of how great the ambiance is, atmosphere or presentation, food needs to be prepared in time and properly.
Attention to details
On top of everything a chef does, they are responsible for being oriented to details. They should be able to write specials, contribute to menus and read to get every detail customer needs. When it comes to ordering food produce, they need to ensure that whatever is ordered is at the right quantities to avoid products going bad or understocking. Chefs need to be tech-savvy and have basic computer skills. They should be proficient in basic packages such as Excel spreadsheets. It may take time to hire the best chef, but it is worth it.
Any guide to making cocktails will mostly list the ingredients that you need to make a particular type of drink. However, all cocktails are not created equal. The right ingredients and equipment are key to making cocktails to be tasty and outstanding. If you need to make the best cocktails, it is important that you get the mixing right. We have gone to the depth to research on what it takes to prepare the best cocktails.
Here is what you need to get right.
Making cocktails involves a careful combination of the right ingredients as well as experimenting on different stuff. There are different types of alcohol that can be used in making cocktails. Nearly all cocktails are a product of vodka and rum. Some of the best drinks, be it rum and coke or vodka are made from very simple ingredients. If you need to make classic martinis, gin is a very popular option.
You need to get garnishing and extras right. Any guide to making cocktails will tell you that most mixed drinks achieve a great taste from garnishing. You should also try your best to keep your drinks fresh and interesting. You should also try to make cocktails from fruits and vegetables. The most common garnishing products you will need include; olives, cocktail onions, lemons, lime, maraschino cherries and a bottle of bitters.
A shot of glass and a mug will not be enough for just shaking and sharing your drinks. You need to research and invest in the right type of ingredients that can help you in making the right cocktails. Use these ingredients to mix cocktails with precision. Using these tools properly ensures that you get excellent drinks. You don’t want to serve your customers with a drink that has too much ice where taste has been washed away by water. If it has too much vodka, it will be undrinkable. Note that clear cocktails are usually stirred. Cloudy cocktails are usually shaken. You can ask your customers if they prefer martinis shaken or stirred.
Choose spirits that your guests and customers will love. The basic mixers you will need include carbonated water, lemon-lime seltzers, tonic water, and ginger ale. For garnishes, ensure you have the likes of cherries, olives, lime, and lemon. To keep your cocktails cool and refreshing, you will need to have ice. Ensure that you have the right selection of glassware. You will also need various bar tools.